ASIC launches legal action against NAB

| 06.09,18. 05:57 PM |

ASIC launches legal action against NAB

The corporate watchdog ASIC has launched legal action against NAB over the fees-for-no-service scandal engulfing the organisation. The alleged breaches are civil and ASIC is not accusing the NAB of criminally breaching the law. ASIC claims NAB breached six sections of the Corporations Act, the Superannuation Act and on eight occasions the ASIC Act.